Parliament approves MVR 27.9bn budget for 2018
The budget had not been subject to much change at committee review
Finance Minister Ahmed Munavvar speaking in parliament
Parliamentarians have on Wednesday passed the government’s proposed budget of MVR 27.9 billion for 2018.
The budget, which had not been subject to much amendment at committee review, passed with votes from 39 parliamentarians.
The budget estimates an income of 22.4 billion for next year, which comprises of 16.3 billion from taxes, 5.2 billion from as non-tax profits, and 858 million estimated to receive as aid.
The estimated state debt by the end of 2018 is 43 billion. The state debt rose by 15 billion in the past four years. Budget deficits are estimated to be 2.5 billion.
The government had allocated 85 million for the upcoming presidential elections, 1.1 billion for sewer and water system development, and over 5.8 billion for a total of 153 development projects in the public health sector.
Opposition parliamentarians had boycotted the voted, having done so at committee review as well. They had expressed concern over lack of opportunity to speak and the committee’s refusal to summon central bank governor Ahmed Naseer and Auditor General Hassan Ziyath.
Finance Minister Ahmed Munavvar proposed the budget on 15th November.
